All Forum Posts by: Scott Kaczmarek

I’ve been contributing to traditional retirement accounts since I was 22; I’m 44. While some on BP will discount this approach, I find it has worked well for me. However, as you mentioned, you need to be 59.5 years old to access those funds without penalty. I’ve been investing my “walk away” money in real estate to generate income. My goal is to build up enough cash flow to cover the gap between the time I decide to hang it up until I can access my retirement funds. Real estate will then be my “pension” in addition to the investment income from my retirement plans. There’s no one size fits all approach, but I applaud your thought process at 26!

I have replacement coverage, 1 year in lost rents and $500K in liability on each of my houses in 35215. The average cost is $750 per year and my houses average $100,000. $1,000 sounds high, but that depends what they’re quoting for coverage.

2 SFRs and adding another 2 this year.

Jay Hinrichs I’m not with Morris btw. I’m with you on that group...waiting for the explosion! I’m buying $100k+ renting at $975+!

Jay Hinrichs thanks for the heads up on the 60 day vacancy issue with insurance. I had a property that took over 60 days and I called my insurance company. All is well and I’m covered, but it wasn’t on my radar there could be an issue. I appreciate your posts and the experience you share.

I’ve found The Real Estate Guys to have some good information. GRE is probably my favorite.

The Senate version disallows interest on HELOCs. That would be a hit for an investor like me wanting to tap equity in my primary residence to expand my rental holdings. It wouldn’t deter me, but it’s a nice tax benefit that could go away!

I invested in 2 houses with Spartan Invest. I closed on the first house in early summer and the second in late summer. I’m happy with experience thus far with the purchase and rehab process. It took 40 days to rent the first house and 90 days on the second house, which was not expected. I think they had a spike in growth, so it may be growing pains. Communication had not been a much as I expected particularly with a property for rent for more than 45 days. I am getting my regular monthly calls since the houses are now rented. I expect I’m going to experience the stability that led me to invest with them.

@Jared Friedman @Philip Hy @Christopher Thompson

Gentlemen - I have been researching Spartan and I had a meeting with them in Birmingham 2 weeks ago.  I would be interested in hearing more about your experience as you all are further along in the process than I am.  Would you be willing to share any further information in a PM or in a brief phone conversation?  I am ready to commit to moving forward with them, but would appreciate your experience with the process.  Thank you!